Hess Midstream Partners LP (NYSE:HESM) COO John A. Gatling Sells 62,457 Shares of Stock

Hess Midstream Partners LP (NYSE:HESM) COO John A. Gatling sold 62,457 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hess Midstream Partners Stock Down 1.5%

Shares of HESM opened at $41.51 on Friday. Hess Midstream Partners LP has a 52 week low of $33.59 and a 52 week high of $44.14. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $8.94 billion, a P/E ratio of 15.37 and a beta of 0.67. The company has a 50-day simple moving average of $39.61 and a 200-day simple moving average of $39.48.

Hess Midstream Partners (NYSE:HESM) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The firm had revenue of $414.20 million during the quarter, compared to analyst estimates of $405.08 million. During the same quarter in the prior year, the business posted $0.59 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts expect that Hess Midstream Partners LP will post 2.5 earnings per share for the current year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were issued a dividend of $0.737 per share. The ex-dividend date of this dividend was Thursday, August 7th. This is a positive change from Hess Midstream Partners’s previous quarterly dividend of $0.71. This represents a $2.95 annualized dividend and a dividend yield of 7.1%. Hess Midstream Partners’s dividend payout ratio (DPR) is 109.26%.

Institutional Trading of Hess Midstream Partners

Several hedge funds have recently modified their holdings of HESM. Alliancebernstein L.P. bought a new stake in shares of Hess Midstream Partners during the fourth quarter valued at approximately $1,944,000. Envestnet Asset Management Inc. grew its stake in shares of Hess Midstream Partners by 2.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 120,180 shares of the company’s stock valued at $4,450,000 after purchasing an additional 3,412 shares during the last quarter. Barclays PLC grew its stake in shares of Hess Midstream Partners by 42.0% during the fourth quarter. Barclays PLC now owns 485,014 shares of the company’s stock valued at $17,961,000 after purchasing an additional 143,566 shares during the last quarter. Mariner LLC grew its stake in shares of Hess Midstream Partners by 6.5% during the fourth quarter. Mariner LLC now owns 55,138 shares of the company’s stock valued at $2,042,000 after purchasing an additional 3,384 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Hess Midstream Partners during the fourth quarter valued at approximately $622,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

Analysts Set New Price Targets

HESM has been the subject of several recent analyst reports. Morgan Stanley started coverage on Hess Midstream Partners in a research note on Friday, July 25th. They set an “equal weight” rating and a $48.00 target price for the company. Wells Fargo & Company raised their target price on shares of Hess Midstream Partners from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Wall Street Zen raised Hess Midstream Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Hess Midstream Partners presently has an average rating of “Moderate Buy” and a consensus target price of $45.80.

Hess Midstream Partners Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.